Gordo Apes Davis
According to the authoritative David Smith, Gordo is preparing for a DD-led Tory Party by aping his "Growth Rule". As you know, this is DD's strategy for limiting the growth of public spending below the growth of the economy, thereby clearing the way for tax cuts. Smith says:
"In his pre-budget report Brown will announce that spending by government departments will rise by 1.9% a year in real terms over the period 2008-9 to 2010-11, below the economy’s long-run growth rate which is estimated by the Treasury to be 2.75%."
Obviously, Gordo's version of the Rule is a pale imitation with about as much credibility as his pledges to raise productivity growth or to abolish unhappiness. But it sounds like he's already running scared.
Roll on 6 December.